KB Group partners with Elev8 Venture Partners as an anchor investor and Co-GP through its subsidiary KB Investment. KB intends to infuse $100 million including co-investments, to the total fund size. KB investment is a subsidary KB holdings which manages over $400 Bn of assets.
Prior to this, KB group has invested in companies like Pharmeasy, Spinny, Tracxn, Fareye, Rupeek, Vedantu, etc. Going forward, KB Group will work closely with Elev8 to identify investment opportunities in India’s leading technology companies and to support Elev8 with portfolio management.
Eric Yoo, Executive Managing Director of KB investment, said,”Navin and the VCats group provide unprecedented access and network to early-stage startups, which will assist elev8 in future deal flow and investments.”
Anuj Golecha, the Co-founder of Venture Catalysts, said, “We are working towards creating a strong Institutional investor base for Elev8. Given the LPs’ overwhelming response, we are targeting a first close in the first quarter of next year, much ahead of our plan.”
With the funding crunch all across the globe, the world’s attention is sharpening to India’s lucrative tech opportunities and the value that could be created.
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